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Our bank is making things very difficult. We have a farm…

Customer Question
Our bank is making...

Our bank is making things very difficult. We have a farm that we need our overdraft left at the same level. But because the bank is now using rates notice for farm value. Our equity has dropped . We make appointment s and they say they want information. We give it and they want more . Last meeting we took our accountant. And they have changed the date again . We are confused.

Lawyer's Assistant: What state/territory are you in? It matters because laws vary by location.

Victoria

Lawyer's Assistant: What steps have you taken so far?

Budgets/ for this year and next . We have keep them up to date but . We have had over 4 changes of bank managers in 18 months.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We just went in to drop more things off and and the manager was there . So stormed out.

Submitted: 4 months ago.Category: Australia Law
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Answered in 5 minutes by:
3/28/2018
Solicitor: Leon, Solicitor replied 4 months ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,933
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Hi, I am Leon, a NSW Solicitor. I am reviewing your question and will reply again in a moment.

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Solicitor: Leon, Solicitor replied 4 months ago

Good Morning

I am sorry to hear about this but your only option is to threaten to take your business elsewhere.

Because of the Banking Royal Commission banks are now becoming more and more conservative and they are reluctant when it comes to giving overdrafts and personal loans.

It is a matter where you are going to have to consider moving banks as they are no longer providing you with an appropriate service.

From what you have told me you have provided them with more than enough information and they continue to string you along.

It is a matter way looking at alternative may cause them to reconsider their position and finalise your application.

I would also suggest that you take a look at your credit rating to see whether or not I have been checking because this will also impact on your ability to borrow.

You cannot force them to give you the money and this is not a matter that the ombudsman or any court would deal with.

If it is a matter where they are misleading you and as a result of the misleading and deceptive conduct and delays you are losing money, you may have an action for compensation but apart from that I can't see very much else that I can offer you.

If you wish to have a phone call to discuss this in more detail please elect a call or I can send you a request.

I hope this makes sense and is of assistance. If you have found my answer to be helpful, please rate me five stars so I can get paid for my services to you. You rating my work 5 stars allows me to continue to provide a service to those who require it.

I am happy for you to ask further questions on anything you wish more detail on.

Let me know if I have answered your question today.

Regards

Leon

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Customer reply replied 4 months ago
Thanks but because farming is tight at the moment it is hard to change banks . Olson both my wife and I work off the farm as well so our cash flow is good. But thanks.
Solicitor: Leon, Solicitor replied 4 months ago

Good Morning

All the best and good luck

Sorry I cannot give you anything more positive.

Please do not forget to rate my work 5 stars so I can be paid for my work and continue ot provide my services.

If you have anything further feel free to come back and ask

Regards

Leon

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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